A sharp decline in multifamily production brought overall nationwide housing starts down 9% in September, according to the Commerce Dept. “Single-family starts posted their highest level since February and are consistent with builder sentiment, which has remained firm in recent months,” says Ed Brady, chairman of the National Association of Home Builders. “After strong readings during the summer, multifamily production pulled back in September,” said Robert Dietz, NAHB chief economist. “Still, we expect the multi- family sector to post a good year in 2016, though down a bit from last year.”
Slowdown in Multifamily Market Drags Housing Starts in Sept.
October 26, 2016